Company Information

Get to know Beacon Federal Bancorp

Beacon Federal Bancorp, Inc. operated as the holding company for Beacon Federal, a bank that provided a range of banking and financial services to both individual and commercial customers. Originally founded in 1998, its services included accepting deposits, making loans (including real estate, commercial, and consumer loans), and offering other traditional banking products. Headquartered in East Syracuse, New York, the company focused its operations primarily in Onondaga and Oneida counties. In June 2011, Beacon Federal Bancorp, Inc. was acquired by Chemung Financial Corporation, the parent company of Chemung Canal Trust Company, and its operations were merged.

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Financial BankingPRIMARY
Financial Other Service

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Beacon Federal Bancorp

United States

Founded in

1953 (73 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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Regulated

Recommended

IUX

(2,283 reviews)

Mauritius

2015

(10 years)

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This company is currently Unproved.

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.